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The German Federal Association For SMEs Inks Memorandum Of Understanding With IPA Qatar And Launches An Office In Doha

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The Investment Promotion Agency of Qatar (IPA Qatar), the agency overseeing investment activities under the Invest Qatar brand, and the German Federal Association for Small and Medium-Sized Businesses (BVMW), a cross-sectoral association representing the interests of small and medium-sized enterprises (SMEs), have come together to launch a BVMW representative office in Qatar’s capital city, Doha.

The inauguration marks BVMW’s first headquarters in the GCC region.

The announcement follows the signing of a memorandum of understanding (MoU) between IPA Qatar and BVMW, which aims to enable further Qatari-German economic and commercial cooperation while also identifying new opportunities within Qatar’s SME sector. The newly launched BVMW office in Doha will thus aim to connect the 900,000 members that fall under BVMW with their Qatari counterparts. Furthermore, it will also serve as a platform that connects German businesses with potential partners across the region.

The new office’s inauguration was attended by the likes of HE Saleh bin Majid Al-Khulaifi, Assistant Undersecretary of Commerce and Affairs, Qatar Ministry of Commerce and Industry; Sheikh Ali Alwaleed Al-Thani, CEO, IPA Qatar; and Markus Jerger, Executive Chairman, BVMW. Additionally, a delegation of German business leaders representing different sectors -such as telecommunications, advanced manufacturing, technology, artificial intelligence, food and e-gaming- were also present at the event.

“This is a significant milestone in our partnership with BVMW, which continues to create new avenues to deepen Qatari-German cooperation,” IPO Qatar CEO Al-Thani said. “The inauguration of BVMW’s first headquarters in the GCC region is a testament to Qatar’s conducive business environment and its leading position as a thriving investment hub. We look forward to supporting more German SMEs to pursue their business growth ambitions in Qatar and the region.”

On his part, BVMW Executive Chairman Jerger added: “With great anticipation, we foresee our new office playing a pivotal role in fostering a multitude of prosperous Qatari-German joint ventures in the years to come. Through these collaborations, our objective is to strengthen our common economy, while forging closer ties with our partners in Qatar and the wider region. The immense growth potential of this new chapter fills us with enthusiasm and we look forward to the remarkable successes that will unfold through this exciting journey.”

Related: Following Qatar’s Successful Staging Of The FIFA World Cup 2022, Qatar Tourism COO Berthold Trenkel Believes The Nation’s Appeal As A Tourist Destination Is Primed For Growth

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